Summit Group Plans Singapore Listing For Power Unit By April – Chairman

Electricity producer Summit Power International plans to list on the Singapore Stock Exchange (SGX) by April, what is likely the first company from Bangladeshto offer shares in the city-state, as it seeks to raise funds to invest in assets across Asia.

Bangladesh’s economic growth soared by 7.28 percent in the financial year that ended in June 2017 and its population is expected to climb to over 185 million people by 2030.

Together with Pakistan and India, the country is making South Asia a hotspot for liquefied natural gas (LNG) demand, attracting investment from gas producers and power plant builders after years of the country being considered an energy backwater.

“The stock market in Bangladesh is small and our financial demands are much larger… Singapore seems to be becoming a global financial market, so it looks like a good place to list in,” Muhammed Aziz Khan, the chairman of Summit Group, the conglomerate that owns Summit Power, told Reuters in an interview in Singapore. Read More…